Rentals in Spring Hill>Question Details

George Franc…, Renter in Spring Hill, FL

Hi this is george francis again just wondering if me and my wife would have to put a bigger deposit down if our credit is bad

Asked by George Francis, Spring Hill, FL Thu Oct 3, 2013

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Hi George,

I am just following up with you! Have you decided when you may want to buy a home?

Call me or Email me your questions at davidherouxhomes@gmail.com

-David Heroux
352.658.1810
Tropic Shores Realty

http://www.davidherouxsellsfloridahomes.com
0 votes Thank Flag Link Thu Dec 12, 2013
HI George,

I'd be glad to walk you through the process of getting qualified for a mortgage.

No traditional lender will give you a mortgage with truly bad credit, no matter the down payment. The credit scoring model, and your credit history, is the biggest predictor of whether or not you will make your mortgage payment as agreed. It's really all lenders have to go off of.

Private money lenders might be willing to give you a loan, however they would likely require a large (30-40%) down payment AND the rate would likely be very high.

Your best bet is to speak with a lender to see exactly where you stand, then set up a gameplan of what you'll need to do in the next 6-12 months to qualify for a traditional mortgage.

Tony

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
tony.grech@pmac.com
0 votes Thank Flag Link Fri Oct 4, 2013
Hi George,


Its not how much you have to put down. If your credit is not were it should be you would not be able to get a loan anyway! Its important to focus on what you have to do to restore your credit .

click here>>> https://www.financialeducationservices.com/video/video_resto…


email me DavidHerouxHomes@Gmail.com or Call me at 352.658.1810 with questions!
0 votes Thank Flag Link Fri Oct 4, 2013
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